Head Debt Collectors:

Daniel F. Burtis, President

Michael Fromknecht, President

Gregory Fuchs, Vice President

Edwin S. Burtis, Secretary, Treasurer

Kenneth Hill, VP Operations

Quick Analysis                         Consumer Comments Below

Rarely has one organization generated the number of complaints that this one has. Consumers nationwide are complaining about Merchants Credit Guide Co. attempting to collect on debts time barred by statute. Agency owner and President Greg Fuchs, Daniel F. and Edwin S. Burtis are a class action law suit waiting to happen. Merchants purchased and is attempting to collect on debts as old as fifteen years.

 

Merchants is collecting for its own subsidiary; CFB Financial III, LLC (IL LLC) on debts mostly time barred by statute, meaning they can no longer be litigated, nor placed on your credit reports. Merchants and CFB Financial can be sued for their illegal debt collection practices. Some Citibank accounts were originally charged off back in the 90s, which means Merchants likely paid just pennies for them. Their collectors are poorly trained, making threats of actions they cannot take and we are receiving many complaints of time barred debts appearing on credit reports. The good news is you can sue and may even recoup legal fees in your suits. These activities are not new or unique, just a different spin on an old consumer scam.  

 

Consumers contacted by Merchants Credit Guide are urged to NEVER send them money, they are a scam. All of the debts they are attempting to collect appear to be illegal. You do NOT legally have to pay on a time barred debt. If Merchants Credit Guide Co. has accessed or placed information on your credit bureau reports, they may have committed a crime. You may be able to collect a fee of $1,000 from them AND have Merchants Credit Guide pay your attorney fees. 

 

You may want to consider legal actions against Fuch, Burtis and Merchants if warranted. Tape record their calls (where legal) as tapes go a long way in court settlements.

CAUTION: I recommend you NEVER disclose your bank account or credit card information to a debt collector, as you risk them emptying your account, or maxing out your credit card. If you feel they are reporting on your credit bureau files in error or need assistance in dealing with them, email  the details w/your location.  Assistance and referral to a consumer legal specialist may be available.   Email for Assistance 

  Comments from consumer emails.  Messages edited for brevity.

  Consumers said... Merchant's Credit